Saturday, November 29, 2014

The Fibs Progressive Tell

Oops. The U.S. (arguably) already has the most progressive tax system amongst the rich, developed, countries.

What’s shown below is the share of taxes paid by the richest 10%, their share of income, and the ratio of the two. A ratio higher than one indicates that the richest 10% pay a higher share of taxes than their share of income (which is the desired outcome of any progressive tax system).